Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 27, 2023 16:33:40 GMT
Thank God, Boris Johnson is out of the picture and his jingoistic gang of Brexit fundamentalists still in the government have lost their clout. Otherwise, this pact would be another TCA. www.msn.com/en-gb/money/other/britain-and-eu-sign-cooperation-pact-in-financial-services/ar-AA1d6FnH?ocid=msedgntp&cvid=abe9afaef25a4a33a737a5c8c25f2c87&ei=11Britain signs cooperation pact with EU in financial services in Brussels
© Thomson Reuters By Huw Jones LONDON (Reuters) -Britain and the European Union signed a long-delayed post-Brexit cooperation pact in financial services on Tuesday, but the rapprochement is unlikely to restore EU access for the City of London anytime soon. The memorandum of understanding on regulatory cooperation was part of Britain's deal in exiting the European Union but put on ice amid clashes with Brussels over trading arrangements in Northern Ireland, since resolved by the Windsor agreement. The first meeting of the new regulatory forum is due in the autumn, allowing both sides to discuss regulatory changes, international developments or risks to markets. "We are absolutely delighted on the UK side to be able to sign this memorandum of understanding, we also see it as an important turning point," added Hunt. UK and EU financial markets are deeply interconnected, and re-building a constructive, voluntary relationship is of benefit to both sides, Hunt said. Industry bodies TheCityUK, AFME, Investment Association, UK Finance and the City of London welcomed news that the MoU has finally been signed after a long wait. But Etay Katz, a financial services lawyer at Ashurst, cautioned: "Fundamentally, the EU is competing with the UK for financial business and thus we do not expect any meaningful concessions from the EU other than those dictated by self-interest or systemic considerations." The MoU sets up a forum of treasury, regulatory and European Commission officials, similar to what the EU already has with the United States. Since Britain's financial sector lost unfettered access to the EU market of over 400 million people due to Brexit, Brussels has made it clear the MoU will not be a forum for negotiating better access for UK financial services. To deepen its capital market post-Brexit, the EU is preparing to approve a law that would require banks in the bloc to shift clearing of euro derivatives from London to centres like Frankfurt. After Brexit, London was overtaken by Amsterdam as Europe's top share-trading venue as trading in euro-denominated stocks shifted from the UK to the bloc, prompting Britain to reform its rules in a bid to shore up London's role as a global financial centre. |
|
|
|
Post by Red Rackham on Jun 27, 2023 20:14:53 GMT
Just another nail in Brexit's coffin. It seems obvious to me that history is destined to slowly repeat itself, as it so often does. We will over the next few years be assured by politicians that there's nothing to worry about, calm down the UK is not re-joining the EU Brexit is safe. Just as Major smiled in 1992 when without a referendum he handed the UK to the EU and assured a sceptical electorate that joining the EU does not mean we will lose our sovereignty and of course the UK will not be governed from Brussels. All bloody lies.
What we will see over the next few years is the slow death of the referendum result as increasing political 'cooperation' between the UK and the EU kills off what's left of Brexit. This will see the rise of a pro UK party, just as we saw in the 1990's with UKIP. The popularity of this new party will to a large extent depend on the result of next years election, in that respect a Labour win would not be the worst outcome.
The EU is like cancer, no one wants it, no one asks for it, it's imposed and once it's imposed, you're fucked. Democracy? Don't make me laugh.
|
|
|
|
Post by sheepy on Jun 27, 2023 20:36:32 GMT
Just another nail in Brexit's coffin. It seems obvious to me that history is destined to slowly repeat itself, as it so often does. We will over the next few years be assured by politicians that there's nothing to worry about, calm down the UK is not re-joining the EU Brexit is safe. Just as Major smiled in 1992 when without a referendum he handed the UK to the EU and assured a sceptical electorate that joining the EU does not mean we will lose our sovereignty and of course the UK will not be governed from Brussels. All bloody lies. What we will see over the next few years is the slow death of the referendum result as increasing political 'cooperation' between the UK and the EU kills off what's left of Brexit. This will see the rise of a pro UK party, just as we saw in the 1990's with UKIP. The popularity of this new party will to a large extent depend on the result of next years election, in that respect a Labour win would not be the worst outcome. The EU is like cancer, no one wants it, no one asks for it, it's imposed and once it's imposed, you're fucked. Democracy? Don't make me laugh. I just smiling as our resident EU propaganda mouthpiece in the mind zone was explaining people are a tradeable commodity certainly in eyes of the EU. Which B-4 tried to tell him he is not a slave. Funny old world. |
|
|
|
Post by buccaneer on Jun 27, 2023 23:32:05 GMT
This looks like nothing to cheer about. Two key parts from the OP.
Then again, an OP who wants lower wages for Briton's would no doubt see this ^ as a good move.
Team EU all the way. FML.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 28, 2023 9:30:04 GMT
Another nail in Boris Johnson's Brexit coffin, perhaps. The sooner it gets buried six feet under, the better, IMO. But an agreement on financial services was always going to have to be negotiated and reached. It is a major part of the UK economy; we can't leave it in limbo. And we do not need a referendum on it either. We can't hold referendums on every single issue on which the electorate are divided. We have our MPs to do that for us.
|
|
|
|
Post by Vinny on Jun 28, 2023 9:35:32 GMT
Fuck the banks.
|
|
|
|
Post by Vinny on Jun 28, 2023 9:35:50 GMT
And fuck the EU.
|
|
